Meiji Yasuda Life Buys The Standard

Meiji Yasuda Life Insurance Company has entered into a
definitive agreement to acquire StanCorp Financial Group (The Standard).

The Standard, founded in 1906
and headquartered in Portland, Oregon, is a provider of insurance,
retirement and investment products and services. Its subsidiaries include
Standard Retirement Services, Standard Insurance Company, The Standard Life
Insurance Company of New York, StanCorp Mortgage Investors, StanCorp Investment
Advisers, StanCorp Real Estate and StanCorp Equities.

Founded in 1881 and headquartered in Tokyo, Meiji Yasuda is the oldest and
third-largest life insurance company in Japan. Once the deal closes, The Standard will become Meiji
Yasuda’s primary U.S. presence and partner, and it will continue to operate
under The Standard brand. No changes to The Standard’s operations are
anticipated. Greg Ness, The Standard’s chairman, president and chief executive
officer, will continue to lead the business with the current management team.

“We are very pleased to welcome The Standard to the Meiji
Yasuda family and to make them a key pillar of our international operations,”
said Akio Negishi, president of Meiji Yasuda. “We have been studying
opportunities in the U.S. market for some time, and The Standard stood out as
our ideal partner.”